Commercial Land with Existing
For Sale
$6,500,000
2135-47 W Armitage Avenue, Chicago, IL 60647
Land, Chicago, IL
Property Size23,632 SF
Lot Size0.33 Acres
Price / SF$275.05
Days on Market123
Property Features for 2135-47 W Armitage Avenue
General Information
Property type
Land
Property subtype
Other
Zoning
MULTI
Elementary school district
299
Middle school district
299
High school district
299
Directions
LEAVITT AND ARMITAGE, EAST TO ADDRESS
Subdivision
CHI - Logan Square
Standard status
Active
APN
14313040140000
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
72020
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Listing Agency:
Baird & Warner
(312) 242-1000
Listed By:
Peter Fotopoulos · License #471010854
(312) 265-8000
Added: Jul 1
Changed: Oct 10
Last Checked: Oct 31 at 3:06PM
MLS# 12692470
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This commercial land holding combines six existing buildings with multiple parking areas at 2135–2147 W. Armitage Avenue. The improvements total approximately 23,632 square feet across varied configurations, including one- to three-story commercial and mixed-use structures. The property includes 144 feet of Armitage frontage on a 14,400-square-foot parcel measuring 144 by 101 feet.
Existing improvements accommodate a USDA chicken processing and retail business along with masonry two- to three-flat buildings. Outdoor parking is available for 5 cars or 2 trucks. Natural gas, forced-air heating, central air, and water availability are also reported. The site is located in Chicago’s Bucktown area, less than 2 blocks from the intersection of Armitage and Damen.
Existing improvements accommodate a USDA chicken processing and retail business along with masonry two- to three-flat buildings. Outdoor parking is available for 5 cars or 2 trucks. Natural gas, forced-air heating, central air, and water availability are also reported. The site is located in Chicago’s Bucktown area, less than 2 blocks from the intersection of Armitage and Damen.
Key Highlights
- 14,400‑square‑foot land area measuring 144 by 101 feet
- Approximately 23,632 square feet of existing building space
- Six existing commercial and mixed‑use buildings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$398,790
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,975,800
$8.0M
Cap Rate 7%
$5,697,000
$5.7M
Cap Rate 9%
$4,431,000
$4.4M
Market Conditions
NOI Build-Up for 23,632 SF
Gross rent
$709.0K $30.00/SF
− Vacancy
−$70.9K −$3.00/SF
EGI
$638.1K $27.00/SF
− OpEx
−$239.3K −$10.13/SF
NOI
$398.8K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,975,800
Cap Rate 7%
$5,697,000
Cap Rate 9%
$4,431,000
Alternative Uses
Best Use
Mixed Use
$5.70M
$4.98M – $6.65M
NOI $398,790 @ 7.0% cap · market cap 6.14%
Second Best
Retail
$4.67M
$4.09M – $5.45M
NOI $326,944 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$11.14M
$9.75M – $13.00M
NOI $779,969 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,330
Businesses Nearby
195k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 32%
Groceries 16%
Electronics 2%
Barnes & Noble
Shops & Services
48,824 visits/mo
0.5 miles
McDonald's
Dining
43,397 visits/mo
0.3 miles
Aldi
Groceries
32,222 visits/mo
0.3 miles
Shell
Shops & Services
23,379 visits/mo
0.5 miles
7-Eleven
Shops & Services
5,878 visits/mo
0.2 miles
Demographics for 60647, IL
85,631
Population
41,975
Households
2
Avg Household Size
33
Median Age
61%
College-Educated
92%
High-School Grad
4.0 sq mi
ZIP Area
21,408
Density / Sq Mi
$102,851
Median Household Income
$65,776
Median Earnings
$1,714
Median Rent
$557,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Commercial land - Redevelopment site with multiple commercial and mixed-use structures, parking areas, and available water service.
Where is this commercial land located?
The property is located at 2135-47 W Armitage Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 14,400‑square‑foot land area measuring 144 by 101 feet; Approximately 23,632 square feet of existing building space; Six existing commercial and mixed‑use buildings
